DarioHealth (NASDAQ:DRIO) Raised to Hold at Wall Street Zen

DarioHealth (NASDAQ:DRIO) was upgraded by Wall Street Zen to a “hold” rating in a research report issued on Saturday, Wall Street Zen reports.

DRIO has been the subject of several other research reports. Weiss Ratings restated a “sell (e+)” rating on shares of DarioHealth in a report on Tuesday, October 6th. Alliance Global Partners started coverage on shares of DarioHealth in a research report on Wednesday, August 19th. They set a “buy” rating and a $12.00 price target on the stock. TD Cowen decreased their price objective on DarioHealth from $11.00 to $8.00 and set a “hold” rating on the stock in a report on Wednesday, August 12th. Stifel Nicolaus lowered their price objective on DarioHealth to $5.00 and set a “buy” rating for the company in a research report on Friday. Finally, BTIG Research started coverage on DarioHealth in a research note on Tuesday, October 27th. They set a “buy” rating and a $6.00 target price for the company. Three investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $7.75.

DarioHealth Trading Down 23.6%

Shares of DRIO opened at $1.26 on Friday. DarioHealth has a 12-month low of $1.26 and a 12-month high of $14.77. The firm has a market capitalization of $12.35 million, a P/E ratio of -0.32 and a beta of 1.18. The firm has a 50-day moving average price of $5.03 and a 200 day moving average price of $7.32. The company has a current ratio of 2.31, a quick ratio of 1.92 and a debt-to-equity ratio of 0.56.

DarioHealth (NASDAQ:DRIO) last issued its earnings results on Thursday, November 12th. The company reported ($0.73) EPS for the quarter, topping analysts’ consensus estimates of ($0.95) by $0.22. The company had revenue of $5.31 million for the quarter, compared to the consensus estimate of $5.21 million. DarioHealth had a negative net margin of 159.85% and a negative return on equity of 55.10%. Sell-side analysts forecast that DarioHealth will post -2.94 EPS for the current year.

Hedge Funds Weigh In On DarioHealth

Several large investors have recently made changes to their positions in DRIO. Nantahala Capital Management LLC acquired a new stake in DarioHealth in the 2nd quarter valued at approximately $4,030,561. BlackRock Inc. purchased a new stake in DarioHealth in the second quarter valued at approximately $249,000. Finally, Commonwealth Equity Services LLC purchased a new stake in DarioHealth in the third quarter valued at approximately $159,000. 33.39% of the stock is currently owned by institutional investors and hedge funds.

Key Headlines Impacting DarioHealth

These are some of the DRIO headlines that stood out recently:

• Positive Sentiment: Third-quarter revenue rose 6% year over year and 3% sequentially to $5.3 million, slightly topping estimates. The reported loss was also narrower than analysts expected, while operating loss fell 15% and operating expenses declined 10% year over year. DarioHealth Q3 results
• Positive Sentiment: Stifel Nicolaus lowered its price target to $5 but maintained a Buy rating, indicating that the analyst still sees substantial potential upside from the referenced share price. Stifel Nicolaus ratings
• Neutral Sentiment: Despite the improving operating trends, DarioHealth remains loss-making, and GAAP gross margin edged down to 59% from 60% a year earlier. The forecasted growth depends on converting contracted and late-stage opportunities, so execution and the timing of revenue remain key risks. DarioHealth Q3 results

DarioHealth Company Profile

DarioHealth Corp. is a digital health company that develops technology-enabled programs to help people manage chronic and behavioral health conditions. Its offerings combine mobile applications, connected devices, coaching and personalized guidance. The company’s services address conditions including diabetes, hypertension, weight management, musculoskeletal health and behavioral health. Its platform is designed to support individuals as well as employers and health plans seeking to provide digital health programs to their members.